Wealth Enhancement Advisory Services LLC Raises Stock Position in PPG Industries, Inc. $PPG

Wealth Enhancement Advisory Services LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.0% in the third quarter, Holdings Channel.com reports. The fund owned 71,295 shares of the specialty chemicals company’s stock after purchasing an additional 5,893 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in PPG Industries were worth $7,251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PPG. Capital Advisors Ltd. LLC boosted its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in PPG Industries in the 3rd quarter valued at about $26,000. Gladwyn Financial Advisors Inc. acquired a new position in PPG Industries during the second quarter worth about $31,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC grew its stake in PPG Industries by 184.0% in the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 1.5%

Shares of PPG Industries stock opened at $112.20 on Friday. The business has a 50-day moving average price of $103.33 and a 200 day moving average price of $105.64. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $124.74. The firm has a market cap of $25.18 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.32 and a beta of 1.17. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be paid a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Berenberg Bank decreased their target price on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Citigroup lifted their price objective on PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, Evercore ISI cut their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $120.86.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer owned 28,439 shares in the company, valued at approximately $3,128,290. The trade was a 15.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.